State of the Hospital Industry & Special Note!!

Readers know hospitals are suffering from constrained resources: people, money, and tech. 

This has created multilayered problems—from inflation raising supply costs to hospital workers leaving for startups.

Very soon, we will be launching a new service that can save hospitals and medical clinics millions of dollars, so keep checking back for this special launch!!

Larry G. Potter

Your Growth ​& Health Are​ Our Business

Tax Incentives | Expense Reduction | Retirement Plans | Corp. Financing | Smart Medical

We have been hinting at a special release coming for hospitals and medical facilities and it's coming shortly after 3pm Wednesday, June 21, 2023  Please keep checking back here!!

Bonus depreciation being reduced and by 2028, it will be gone! That's your money!!

 

Most owners must know that their investments have tax advantages that could eliminate tax burden. This is incredibly impactful right now because, in 2023, bonus depreciation has been reduced to 80%, and it will continue to be reduced year over year until 2028, when it will be eliminated. The longer an owner waits, the more they could lose out on.

We work directly with your CPA to ensure they know exactly how to submit your finalized tax credit claims. Not one challenge by the IRS in 20+ years.

There is no obligation to use this system. Determine what your tax advantage would be in seconds at InstantCostSeg.com

Patient outcomes and healthcare spending were almost identical between elderly hospitalized patients...

 

...regardless of whether physicians with a doctor of medicine (MD) or a doctor of osteopathic medicine (DO) degree treated them, a new study found.

While DOs make up about 11% of physicians in the US, those medical professionals experience stigma because some assume they are “not considered real doctors” without an MD, KFF Health News reported.

The study analyzed more than 329,500 Medicare admissions, where 77% of patients were treated by an MD and 23% were treated by a DO. The patient mortality rate for MD physicians were 9.4%, compared to 9.5% for DO physicians; readmission rates were 15.7% and 15.6%, respectively; and the cost of care was respectively $1,004 versus $1,003, per the study. The length of hospital stay was 4.5 days for both groups.

Nonprofit Hospitals Offer Less Charity Care Despite Rising Profits

During the time between 2012 to 2019, profits increased from $43.01 million to $58.61 million for nonprofit hospitals, while charity care spending fell from $6.65 million to $6.36 million.

Hospitals use cash reserves to cover capital costs, offset unexpected shortfalls in reimbursement, and earn higher bond ratings. However, allocating more profits to cash reserves than to charity care raises concerns about the mission of nonprofit hospitals.

Unlike nonprofit hospitals, for-profit hospitals’ spending on charity care increased from $2.29 million to $6.30 million during this time. For-profit hospitals had a four-cent increase in charity care spending associated with each one-dollar increase in profit.

Does this mark the beginning of a nationwide trend for hospitals?

 A New Colorado law mandates hospitals increase financial transparency.

Colorado Gov. Jared Polis signed a measure that will mandate hospitals provide additional financial information to the state, CPR News reported June 2.

Effective next July, hospitals will have to provide financial details about their acquisitions, plans for construction projects and details on how they move money around.

Sometimes just by shining a light on what's going on with these practices, there's a public pressure created that will make hospitals voluntarily do better in cases where they're not," Rep. Chris deGruy Kennedy, a sponsor of the bill, told CPR News.

As mentioned before, something is brewing that could mean millions for hospitals very soon and we will be making it available to your hospital very shortly.

While waiting for this release, take a moment to use the "sliders" to answer 3 simple questions and then activate them. As a hospital, we will automatically inform you of all of the details as we prepare to launch once you have registered with us, no need to keep checking back here!!!

Larry G. Potter

Your Growth ​& Health Are​ Our Business

Tax Incentives | Expense Reduction | Retirement Plans | Corp. Financing | Smart Medical

High expenses have been placing added strain on hospitals as they try to recover from the challenges of the pandemic.

 

Hospital finances broke even in April amid a continuing trend of high expenses, plus the unwinding of the Medicaid continuous coverage requirement of the COVID-19 public health emergency

Hospitals experienced increases in bad debt and charity care in April. Combined with decreased patient volumes, authors said the data could illustrate the effects of the start of widespread disenrollment from Medicaid following the end of the PHE and the continuous enrollment provision that accompanied it.

As states continue the process of redetermination, these trends will likely continue.

Monitoring patients with congestive heart failure for costly and dangerous complications, like fluid accumulation, could soon be as easy.

 

Israel-based health technology company Cordio Medical, along with AstraZeneca and Spain’s Bellvitge University Hospital, are piloting HearO, a smartphone application that uses artificial intelligence to detect heart failure warning signs in a patient’s speech patterns and notify their doctor weeks before a cardiac event occurs.

“We took this known clinical phenomenon and just turned it into something that can be measured objectively [by] looking at electrical signals created by speech, captured by microphones on off-the-shelf mobile devices,” said Cordio CEO Tamir Tal.

The pilot will examine patient compliance with HearO and the software’s notification of potential heart failure events over six to nine months.